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UTI SPrEAD Fund announces 8% dividend

February 15th, 2008

UTI SPrEAD Fund from UTI Mutual Fund announced a dividend of 8%. This is the first dividend announcement from the fund scheme.

The scheme’s inception date is 22 June 2006 and comes into Open Ended Equity Oriented Scheme category. Mr. Harsha Upadhyaya is the fund manager of the scheme.

The objectives of the scheme are: “The investment objective of the scheme is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price differences between the cash and derivative market by investing predominantly in equity & equity related securities, derivatives and the balance portion in debt securities. However, there can be no assurance that the investment objective of the scheme will be realised.”

The Asset Allocaiton of the scheme is as follows: ”     Equity: 65-90%, derivatives 65-90%, money market & debt instruments 10-35%”

UTI SPrEAD Fund has Rs. 429.51 Crores as AUM (as of Jan 31, 2008). Its NAV is 11.478 (as of Feb 14, 2008)

Top holdings of the fund include Vijaya Bank, Allahabad Bank, Axis Bank, Sesa Goa and Union Bank of India.

The minimum investment in the scheme is Rs. 5000. There is no entry load into the scheme. Exit Load is 0.75% For < Rs.2 Crores; 0.50% For > = Rs.2 Crores (Effective from 15-Nov-2005). M/s. Karvy Computershare Pvt. Ltd. is the Registrar for this fund.

Entry Filed under: Mutual Funds, Dividend Announcements, UTI MF